Majer Corporation makes a product with the following standard costs: Standard Quantity or Hours 6.4 ounces 1.0 hours 1.0 hours Direct materials Direct labor Variable overhead Standard Cost Per Unit $19.20 $16.00 $ 3.00 Standard Price or Rate $ 3.00 per ounce $ 16.00 per hour $ 3.00 per hour The company reported the following results concerning this product in February Originally budgeted output Actual output Raw materials used in production Actual direct labor-hours Purchases of raw materials Actual price of raw materials Actual direct labor rate Actual variable overhead rate 4,400 units 5,500 units 30,700 ounces 2,130 hours 33, 100 ounces $117.10 per ounce $107.60 per hour $ 2.50 per hour The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased The variable overhead rate variance for February is: Multiple Choice $1,070 F $1,070 U $1065 U $1065 F